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Commitments and Contingencies
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 19: Commitments and Contingencies

 

The following is a schedule of future minimum cash contractual obligations as of September 30, 2024 (in thousands):

                                   
   2024   2025   2026   2027   2028   Thereafter   Total 
Operating Leases  $525   $1,640   $1,645   $1,415   $1,071   $3,386   $9,682 
Finance Leases   756    278    54    –    –    –    1,088 
Employment Contracts   1,014    1,646    222    –    –    –    2,882 
Consulting Contracts   1,019    2,840    769    –    –    –    4,628 
Debt   1,662    8,739    –    –    –    –    10,401 
Contractual obligation  $4,976   $15,143   $2,690   $1,415   $1,071   $3,386   $28,681 

 

The present value discount of the minimum operating lease payments above was $2.7 million which when deducted from the cash commitments for the leases included in the table above, equates to the operating lease liabilities of $7.0 million recorded as of September 30, 2024 on the Company’s condensed consolidated balance sheet.

 

Other Funding Commitments

 

The Company enters into various agreements associated with its individual properties. Some of these agreements call for the potential future payment of royalties or “profit” participations for either (i) the use of third party intellectual property, in which the Company is obligated to share net profits with the underlying rights holders on a certain basis as defined in the respective agreements, or (ii) services rendered by animation studios, post-production studios, writers, directors, musicians or other creative talent for which the Company is obligated to share with these service providers a portion of the net profits of the properties on which they have rendered services, as defined in each respective agreement.